Moscow, Russia – July 8, 2016 – Mechel PAO (MICEX: MTLR, NYSE: MTL), one of the leading Russian mining and metals companies, announces the decisions made at the general meeting of the holders of the company’s Series 04 bonds regarding changes to the current repayment schedule and the interest rate for future periods.

Bondholders have approved by absentee ballot the new restructuring terms for Series 04 bonds (state number 4-04-55005-E dated 14.05.2009). The approved terms include the extension of maturity up to 2021, quarterly amortization of debt until 2021 and the coupon rate being the average between the Central Bank of Russia’s key rate plus 2.5% and a fixed figure determined for each year (annual decrease by 100 basis points from 13.0% to 9.0%).

99.3% of total votes of bondholders eligible for voting on the general meeting supported the aforementioned decisions.

VTB Capital AO, Gazprombank AO and AKB Svyaz-Bank PAO acted as the company’s agents for the bonds’ restructuring.

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Mechel PAO
Ekaterina Videman
Tel: + 7 495 221 88 88
ekaterina.videman@mechel.com